Prepare journal entries, if any, on each of the three dividend dates. ...
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Accounting
Prepare journal entries, if any, on each of the three dividend dates.
On slanuary 1, Quest Compration had 05.000 shares of no-par common slock issued and curtatanding The atock has a atuited value of 35 per share. During the year, the following ocourred. Mar. 1 Issued 55,000 additional shares of common stock for $17 per share May 15 Declared a cash dividend of $1 per share to mockholtsers of record on June 30. Jul. 10 Paid the \$1 cash dividend. Dec. 1 Issured 2,000 adtitional sharow of common stock for $19 per thare Dec. 15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholdert of record Instructions: Prepare the joumal entries, If any, on each of the three dividend dates. Dates should be written in the following manner, for example, month - Jan and day - 13. Journal entries should use appropriate accounts. A Word Bank is provided below. A the listed acoounts will not be used. The only abbreviations allowed are provided below. Amounts should be typed with commas (ie, 5,000). Appropriate Abbreviations C/3 for Common Stock PiC-C/S for Paid-In Capital in Excess of Par - Common Stock T/S for Treasury Stock. PIC-T/S for Paid-In Capital from Treasury Stock
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